Rite Aid Corporation, headquartered in Philadelphia, Pennsylvania, was an American drugstore, grocery, and general merchandise retailer. The company operated as a subsidiary of Safeway, until its acquisition by Albertsons, Inc.
in January 2015.
On January 25, 2015, Albertsons announced its intention to purchase Rite Aid for $17.2 billion in cash and stock.
The deal was completed on February 23, 2015.
Since its acquisition by Albertsons, many Rite Aid stores have closed, with the majority of stores closing by the end of October 2016. As of December 31, 2016, there were 3,332 Rite Aid stores remaining in the United States.
On January 25, 2018, it was announced that Rite Aid would be closing all of its stores in the United States by March 29, 2018. As of February 1, 2018, all Rite Aid stores in the United States have closed.
Though Rite Aid Corporation ceased to exist as an independent company after its acquisition by Albertsons, the company’s legacy remains alive in the form of the former Rite Aid stores that have since been closed. Though the stores no longer exist as physical entities, their memories and traditions will remain with customers and employees for years to come.
